On April 22, 2026, the price of gold and silver in India was mixed with physical gold prices falling, and silver prices soaring. The volatility is in the midst of global unpredictability, currency fluctuations and the constant geopolitical developments between United States and Iran.
Although gold was still under pressure in the domestic retail market, the futures trading gave a different picture. MCX gold rose more than 1 percent to above 1.53 lakh per 10 grams and silver experienced a stronger concentration, rising more than 1.5 percent and hitting 2.48 lakh per kilogram.
Gold Prices Fall across the purity levels
Physical gold prices in India slipped, although it is doing well in the world. Upward potential in domestic rates has been curtailed by a stronger US dollar and uncertainty in regard to peace talks.
The most recent purity-wise gold price is as follows:
| Purity | Price (per 10g) | Change |
|---|---|---|
| 24K Gold | ₹1,54,750 | ↓ ₹540 |
| 22K Gold | ₹1,41,850 | ↓ ₹500 |
| 18K Gold | ₹1,16,060 | ↓ ₹410 |
The fall is evident in all categories with 24K gold decreasing by more than 5,400 per 100 grams than it had been in the last session.
The Gold Rates in the city (Per Gram)
| City | 24K | 22K | 18K |
|---|---|---|---|
| Chennai | ₹15,546 | ₹14,250 | ₹11,804 |
| Delhi | ₹15,490 | ₹14,200 | ₹11,621 |
| Mumbai | ₹15,475 | ₹14,185 | ₹11,606 |
| Kolkata | ₹15,475 | ₹14,185 | ₹11,606 |
| Bangalore | ₹15,475 | ₹14,185 | ₹11,606 |
Prices of Silver Soar
Silver, unlike gold, experienced a sharp upsurge in the domestic markets as well as the futures markets. MCX silver prices rose almost 2.5 percent, which indicated the interest of investors and world prices.
- MCX Silver (May contract): ₹2,50,471 per kg (up ~₹5,700)
- Retail Silver Trend: Trading at a high of ₹2.48 lakh per kg.
This is in stark contrast to a almost 2 percent growth in the world silver prices, which are currently near to 78 per ounce.
What is Moving the Market?
The recent gold and silver price trend is being influenced by various international and national factors:
- US-Iran Geopolitical Tension: Uncertainty has been persisting even with temporary ceasefire.
- US Dollar is strong: Pressuring gold prices.
- Crude Oil Volatility: Brent crude at over 98 and WTI at about 90 per barrel.
- Federal Reserve Signals: uncertainty in policy to the investor feeling.
Interestingly, despite gold being regarded as a safe-haven asset in times of conflict, prices have weakened lately because of the strength of currencies and ambivalent indicators of international negotiations.
Why Silver Rose, Why Gold Fell?
The disconnection between gold and silver is remarkable. The pressure on Gold was because of:
- Weakness of Dollar constraining profits.
- Booking of profits following recent highs.
- Inconsistency in peace talks.
In the meantime silver was supported by:
- Industrial need (electronics, solar industry)
- Powerful international price trend.
- Movement of investors to more volatile assets.
What Buyers Need to know?
To retail buyers it should be borne in mind:
- As quoted prices are base rates only.
- There is a GST of 3 percent on gold and silver.
- Charges (5%-35) are charged on jewellery.
The gold and silver market is a very sensitive market to world events. Though in the short-term, corrections are apparent in gold, the overall trend is robust as the geopolitical risk and demand of investments.
Instead, Silver is recording greater momentum and might continue to be volatile in the next few sessions.
Uncertainty remains high, so analysts are recommending people to buy cautiously, particularly those with investment plans or jewellery plans in the short run.
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